Hertz Global (HTZ) Cuts Q1 Outlook; Notes Excess Industry Capacity

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Go back to Hertz Global (HTZ) Cuts Q1 Outlook; Notes Excess Industry Capacity

Hertz Global Holdings, Inc. Provides Business Update

April 11, 2016 7:32 AM EDT

ESTERO, Fla., April 11, 2016 /PRNewswire/ -- Hertz Global Holdings, Inc. (NYSE: HTZ) said today that, due to what the company believes is excess industry capacity, it now expects its first quarter and full year 2016 U.S. car rental (U.S. RAC) revenue and consolidated first quarter adjusted earnings per share to be lower than previously expected.  Despite this reduction, the company is affirming its full-year 2016 adjusted Corporate EBITDA* guidance within a range of $1.6 to $1.7 billion. 

For the first quarter 2016, Hertz Global Holdings expects U.S. RAC revenue per available car day**... More